On December 11, 2013, the Board approved an Agreement and Plan of Reorganization of the Xxxxxxxx Cornerstone Growth Fund, the Xxxxxxxx Cornerstone Mid Cap 30 Fund, the Xxxxxxxx Cornerstone Value Fund, the Xxxxxxxx Total Return Fund, the Xxxxxxxx Balanced Fund, the Xxxxxxxx Japan Fund and the Xxxxxxxx Japan Small Cap Fund. Each of the Funds identified below is a successor to a series of Xxxxxxxx Mutual Funds, Inc., a Maryland corporation ("HMFI"), Xxxxxxxx SPARX Funds Trust, a Massachusetts business trust ("HSFT"), or The Xxxxxxxx Funds, Inc., a Maryland corporation ("HFI"), pursuant to a reorganization that took place after the close of business on February 28, 2014 (each, a "Predecessor Fund" and, collectively, the "Predecessor Funds"):
* The Xxxxxxxx Cornerstone Growth Fund, a series of Xxxxxxxx Funds Trust ("HFT"), is the successor to the Xxxxxxxx Cornerstone Growth Fund, a series of HMFI;
* The Xxxxxxxx Cornerstone Mid Cap 30 Fund, a series of HFT, is the successor to the Xxxxxxxx Cornerstone Mid Cap 30 Fund, a series of HMFI;
* The Xxxxxxxx Cornerstone Value Fund, a series of HFT, is the successor to the Xxxxxxxx Cornerstone Value Fund, a series of HMFI;
* The Xxxxxxxx Total Return Fund, a series of HFT, is the successor to the Xxxxxxxx Total Return Fund, a series of HFI;
* The Xxxxxxxx Balanced Fund, a series of HFT, is the successor to the Xxxxxxxx Balanced Fund, a series of HFI;
* The Xxxxxxxx Japan Fund, a series of HFT, is the successor to the Xxxxxxxx Japan Fund, a series of HSFT; and
* The Xxxxxxxx Japan Small Cap Fund, a series of HFT, is the successor to the Xxxxxxxx Japan Small Cap Fund, a series of HSFT.
Prior to February 28, 2014, each of the series of HFT identified above had no investment operations. As a result of the reorganization, holders of the Investor Class shares of the Predecessor Funds received Investor Class shares of the series of HFT identified above and holders of the Institutional Class shares of the Predecessor Funds received Institutional Class shares of the series of HFT identified above (each series of HFT identified above is the accounting and performance information successor of the corresponding Predecessor Fund).
